Shailesh Yadav New Delhi [India], May 25, ANI): Record Foreign Direct Investment (FDI) in India shows international investor confidence in the Indian economy. China is the world’s manufacturing plant, but we can see that many companies have shifted out of China in the last few years.
Many countries, including India, are looking to seize this opportunity and are calling on them to shift their bases from China. Nilesh Shah, Managing Director of Kotak Mahindra Asset Management Company, said India attracted a record FDI of US $ 81 billion in fiscal year 2021. This shows that foreign investors are confident in the Indian economy.
In an exclusive interview with ANI, Shah elaborated on why total FDI investment reached record highs: “This shows that foreign investors are confident in the Indian economy. The company has moved from China to India. A large investment in the digital and start-up economies was US $ 81 billion. India is the capital of unincorporated organizations, reinvested profits, It collected the highest FDI inflows in history, including other capital. FDI totaled more than 10 to US $ 81.72 billion, a percentage year-on-year. In 2008, India collected a total inflow of US $ 74.39 billion. Mr Shah said the Indian government has selected 13 sectors for production-linked incentives (PLI) schemes. Years ago, the government launched a textile upgrade fund to provide concessional funding to set up factories, Shah also increased production with the vision of building factories, and India became the world’s textile hub. Said it would be, but people sucked up money and the fund became bad assets (NPA).
This PLI scheme is for the production and electronics, electrical, mobile, automotive and textile sectors and provides incentives for production. Samsung has moved its mobile company from China to India. He said the Indian government is trying to create more companies related to these 13 sectors.
“I remember that India and China were equal in 1980, but today China is known as the world’s manufacturing plant, five times as large as India. In this gap. We need to catch up. We are number one in service. The PLI scheme can be a game changer. Through this scheme we can bring global companies to India. ”He said Samsung came to India. When they said they made a product for sale in. In India alone, Samsung adds that it is India’s largest consumer endurance company with sales of approximately US $ 12-13 billion.
Shah also manufactures products that Samsung exports to the world in Vietnam, with Vietnam’s sales of about US $ 60 billion, which is 1/10 of India’s GDP, but the same company’s sales. He added that the height is five times higher than that. Of india.
He elaborated that the purpose of the Indian government was to bring companies like Samsung to India. He added that the PLI scheme serves this purpose, creating jobs in the manufacturing industry and supporting the domestic and global economies.
“Remember that when Suzuki came to India, when Honda started making cars when it came to India, there was a small market for cars. Today we have cars and motorcycles all over the world. In these sectors selected for the PLI scheme if we can bring such companies, India can become the world’s manufacturing hub, like the service we call the world’s back office. You can, “Shah added. (ANI)
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